TaxTMI 
TaxTMI 
Reducing Compliance Burden regarding SOFTEX Forms
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....garding SOFTEX Forms -reg Sir, I am directed to state that SOFTEX is the mechanism of RBI which ensures collection of data on exports for statistical and monitoring purpose. To this end, reference is drawn to RBI Guidelines (copy enclosed) on reporting on foreign exchange transactions through FETERS system by using specific purpose codes based on the nature of transactions. 2. In case of SEZ un....
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....cation, any document including relevant invoices may be obtained electronically from the units with the approval of DC. In exceptional cases, where there is a need for more detailed verification, DC may permit seeking sample copies of relevant invoices in physical mode, on a case-to-case basis. 5. This issues with the approval of the competent authority. Yours Sincerely (Sumit Kumar Sachan) Un....
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.... Working Group on Balance of Payments (BoP) Manual for India (Chairman: Shri Deepak Mohanty) constituted by the Reserve Bank reviewed, inter alia, the existing methodology for compilation of India's BoP with a view to making it consistent with the guidelines contained in the Sixth edition of Balance of Payments and International Investment Position Manual (BPM6) of the International Monetary Fund ....
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....lace from April 1, 2012): i) The purpose codes for classification and reporting of foreign exchange transactions in FETERS should be as per the revised classification. Accordingly, all AD category-I banks are advised to report all foreign exchange transactions as per the revised purpose code list with effect from first fortnight of April 2012 as per the attached guidelines. ii) AD banks may in....